Budget 2023 Highlights and What You Need to Know

1 FEB 2023 amrutha pagad

BUDGET 2023-24

Union Finance Minister Nirmala Sitharaman presented the 2023-24 Budget on Feb 1, 2023. The speech lasted 1 hour 27 minutes. VIDEO: twitter/sansad_tv [{ "selector": ".mnxbo-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".rnzcl-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 455px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".ipjkl-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 484px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

INCOME TAX SLAB

Till Rs 3 lakh: No income tax Rs 3-6 lakh: 5% Rs 6-9 lakh: 10% Rs 9-12 lakh: 15% Rs 12-15 lakh: 20%% Above Rs 15 lakh: 30% photo: UNSPLASH [{ "selector": ".ujwxp-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 401px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".wgkco-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 421px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".owsxr-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 443px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

tax rebate TILL Rs 7 lakh

Income tax rebate extended on income up to Rs 7 lakhs in new tax regime. If you earn Rs 7 lakh/year & opt for new tax regime, you don't have to pay income tax. photo: unsplash [{ "selector": ".zbdkd-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 441px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".rfxaa-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 458px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".lifel-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 484px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

OLD AND NEW REGIME

The new tax regime will now be the default tax regime. But: You can still choose the old tax regime and avail the tax benefits on it. PHOTO: twitter/PIB [{ "selector": ".ueutu-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".tekel-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 483px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".nqidn-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 454px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

COSTLIER CIGARETTES

Bad news for smokers: Cigarettes will become more expensive now, with a 16% calamity cess added to the price of it. pHOTO: unsplash : [{ "selector": ".geojz-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 438px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".dlats-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 460px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".mojmc-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 489px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

pan card

Your PAN card will become the uniform identifier at specified government agencies. Govt is also working to further simplify the KYC process. PHOTO: representative [{ "selector": ".qsbjq-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 438px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".xmfkk-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 456px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".oxccx-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 482px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

EXPANSION OF DIGILOCKER

Government will expand the DigiLocker documentation depository service to the fintech sector. Currently, only individuals can use it. PHOTO: TWITTER [{ "selector": ".immjt-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".dzoza-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 464px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".xwaka-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 490px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

LABS FOR 5G SERVICES

The government will set up 100 labs in engineering institutions to develop apps using 5G services. video: unsplash gif [{ "selector": ".ttzkc-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".jracb-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 489px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".bejsd-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 454px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

electric kitchen chimney

Common kitchen appliances like electric kitchen chimney are set to get expensive. Customs duty on electric kitchen chimney increased from 7.5% to 15%. PHOTO: unsplash [{ "selector": ".jqufi-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".wuusm-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 454px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".owast-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 479px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

cheaper evs?

Customs duty on the import of materials required to manufacture lithium-ion batteries will be reduced, making made-in-India EVs cheaper. PHOTO: unsplash [{ "selector": ".kfgxf-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".wxijd-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 454px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".gafnp-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 479px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

cheaper mobiles

Mobile phones are to get cheaper, with customs duty reduction on imports of mobile phone parts. However, headphones and high-end mobile phones will get costlier. PHOTO: unsplash [{ "selector": ".pmzfg-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".eupqo-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 454px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".mbexd-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 479px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

ai centres

Government is embracing the advent of artificial intelligence by setting up three centres for AI in top institutions. PHOTO: unsplash [{ "selector": ".ukbuw-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".iqqsb-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 460px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".iqkwd-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 489px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

NATIONAL DIGITAL LIBRARY

To make education accessible for all, a National Digital Library for children will be set up where high-quality literature & more will be available. PHOTO: unsplash [{ "selector": ".bbqmt-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".wxwmt-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 460px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".lqxfm-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 484px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

NURSING COLLEGES

Focusing on health and education, 157 new nursing colleges will be set up. PHOTO: unsplash [{ "selector": ".txcmg-a", "duration": "500ms", "fill": "forwards", "delay": "1000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 439px))", "opacity": "60%"}, {"offset": 1, "transform": "translateY(0)", "opacity": "60%"} ] }, { "selector": ".wworo-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 460px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".wxujz-a", "duration": "500ms", "fill": "forwards", "delay": "2000ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 487px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

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